Caribbean Trade Law and Development

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  • Caribbean Trade and Development News Digest – July 12 -18, 2020

    Caribbean Trade and Development News Digest – July 12 -18, 2020

    Welcome to the Caribbean Trade & Development News Digest for the week of July 12-18, 2020! We are happy to bring you the major trade and development headlines and analysis from across the Caribbean Region and the world from the past week.

    THIS WEEK’S HIGHLIGHTS

    This week members of the World Trade Organization got to officially meet the eight candidates in the running to succeed incumbent Roberto Azevedo as next WTO DG. From July 15-17, each candidate participated in a special meeting of the WTO General Council and took questions from the membership, followed by a press conference. You can also access each candidate’s statement to the General Council once available here and watch the recordings on the WTO’s website here.

    Barbados’ soon to be rolled out special 12-month remote visa programme called the ‘Welcome Stamp‘ has created much excitement and largely positive international headlines. However, the island may soon have competition from other jurisdictions which have also announced digital nomad visas. In early June, Estonia adopted amendments to its laws to create a digital nomad visa programme, while Bermuda this week announced it will be launching a special one-year residential certificate. Read more

    REGIONAL NEWS

    More support for Govt’s new visa plan

    Barbados Today: The Barbados International Business Association (BIBA) has welcomed Government’s proposed 12-month Barbados Welcome Stamp initiative. BIBA President Derrick Cummins told Barbados TODAY there were several benefits that could be derived from the initiative including increased economic activity. Read more

    Now is the moment for CARICOM to re-engage with the Dominican Republic

    Dominican Today: There is a real case to be made for CARICOM setting aside its reservations and seeking an early engagement with the new administration in Santo Domingo, not least because as a former businessman Mr Abinader knows the Anglophone Caribbean. Read more

    LIAT’s creditors to meet July 31

    Barbados Today: Creditors are about to have their say on whether cash-strapped regional carrier LIAT should go into liquidation. Almost three weeks after Prime Minister of Antigua and Barbuda Gaston Browne announced the airline would be liquidated and a new airline formed, LIAT has called a meeting of the company’s creditors to discuss its wrapping up. Read more

    Antigua hopes to save LIAT with legislation

    Nation News: The Antigua and Barbuda government has provided an avenue for the regional airline, LIAT, to seek Court protection rather than being forced into liquidation after it announced that the Companies (Amendment) Act 2020 was gazetted on Wednesday. Read more

    JAMPRO, BSJ Partner To Develop Bamboo Industry

    Jamaica Gleaner: The Jamaica Promotions Corporation (JAMPRO) and the Bureau of Standards Jamaica (BSJ) are increasing their collaboration to develop Jamaica’s bamboo industry, as demand grows globally for renewable material sources for paper and other manufacturing needs. Read more

    Jamaica launches ‘Return to Set’ guidelines as filming resumes

    Loop Jamaica: JAMPRO and the Jamaica Film and TV Association (JAFTA), have officially launched the “Safe Return to Set” industry guidelines that will govern filming during and after the COVID-19 pandemic in Jamaica. Read more

    14 Entrepreneurs to start the OECS-Caribbean export coaching programme

    Dominica News Online: The OECS-Caribbean Export Development Agency’s Technical Assistance and Coaching Programme launched on July 8, 2020 with the aim of strengthening the entrepreneurial and leadership skills of 14 selected young entrepreneurs from six countries of the Eastern Caribbean. Read more

    Grenada to Reduce Airline Ticket Taxes to Encourage Regional Travel

    Caribbean National Weekly: Prime Minister Dr Keith Mitchell has disclosed that Grenada will soon be reducing taxes on airline tickets as part of measures aimed at encouraging intra-regional travel within the Caribbean Community (CARICOM). Read more

    Trinidad & Tobago PM: No Involvement in LIAT

    Newsday: The Trinidad & Tobago Prime Minister implied the Government will not step in to save cash-strapped LIAT by reversing TT’s past surrender of most of its shareholding, speaking at a briefing on Monday at the Diplomatic Centre, St Ann’s. Read more

    Leaders ‘accept’ regional airfare levies too high

    Barbados Today: High airline taxes, long blamed by many regional experts for their role in a slump in intra-regional travel, may, after all, have to be lowered, a Caribbean leader has hinted. Read more

    INTERNATIONAL NEWS

    Brexit no obstacle to WTO leadership bid, says Liam Fox

    BBC: Liam Fox has downplayed the importance of Brexit in his bid to be the first British boss of the World Trade Organization. Read more

    WTO, ICC, B20 Sound Alarm on Diminishing Availability of Trade Finance Amid Pandemic

    IISD: The World Trade Organization (WTO), International Chamber of Commerce (ICC), and Business Twenty (B20) Saudi Arabia have issued a joint statement that shines a spotlight on “the diminishing availability of trade finance.” Read more

    The formidable challenges facing the WTO’s next Director General

    ING: The World Trade Organisation has begun choosing its new Director General, with eight candidates in the running. As if safeguarding the rules of world trade during a pandemic wasn’t challenging enough, dispute settlement needs reform, China’s status within the world trading system has to be addressed, and success partly depends on US voters in the autumn. Read more

    India revives initiative to conclude Preferential Trade Agreement with S African Customs Union

    Economic Times: Discussions between Southern African Customs Union (SACU) [South Africa, Namibia, Botswana, Lesotho, Eswatini] and India to achieve a Preferential Trade Agreement (PTA) have been revived with the two sides holding a virtual meeting last week to discuss various aspects of the PTA. Read more

    US, India Discuss ‘Possibility’ of Free Trade Pact

    VoA: The U.S. and India discussed the “possibility” of a free trade pact, India’s Commerce and Industry Ministry said in a statement Thursday, just days after India began free trade agreement talks with the European Union. Read more

    US cars ‘must be left out of post-Brexit trade deal’

    BBC: Safety experts are urging the UK government to exclude American cars from any post-Brexit trade deal. Read more

    EU, India move closer to free trade deal

    Deutsche Welle: Following an online summit between the European Union and India, the two powers have announced plans to set up a “high-level dialogue” on investment and trade. Details of any potential free trade pact remain uncertain. Read more

    EU talks to rescue €750bn recovery package stall amid heated debate

    The Guardian: European Union leaders agreed to reconvene at noon on Sunday after spending an evening locked in intense negotiations in an attempt to save a summit on the terms of a €750bn (£682bn) pandemic recovery fund from an acrimonious end as the debate over the bloc’s financial future became “heated”. Read more

    Foreign Minister Toshimitsu Motegi eyes Britain trip next month to discuss trade deal

    Japan Times: Foreign Minister Toshimitsu Motegi could visit Britain as early as next month for negotiations on a trade deal that both countries want to finalize this year, government sources said Friday. Read more

    China says will stick with U.S. trade deal, but respond to ‘bullying’

    Reuters: China said on Thursday it will stick to the Phase 1 trade deal it reached with the United States earlier this year but warned that it will respond to “bullying” tactics from Washington, as relations continue to deteriorate. Read more

    Digital trade agreement of 1998 costs India, other developing nations $10 billion per annum

    Business Today: A research paper published by the United Nations Conference on Trade and Development (UNCTAD) suggests that the developing country members of the World Trade Organisation (WTO) maybe losing about $10 billion tax revenues due to a moratorium on customs duties on electronic transmissions (ET) agreed in 1998 and continued since then. Read more

    US-Africa trade will be positively impacted by AfCFTA – Florizelle Liser

    The Africa report: The Corporate Council on Africa (CCA) is the leading business association focused solely on promoting business and investment between the United States and the African continent. In this time of pandemic, both the continent and the US are looking for ways to strengthen their relationship. Read more

    Digital Trade Is the Next Big Thing in Africa

    AllAfrica: Wamkele Mene was recently appointed Secretary General of the African Continental Free Trade Area Secretariat. Because of COVID-19, free trade for countries that have ratified the agreement did not begin, as planned, on 1 July 2020. In this interview with Africa Renewal’s Kingsley Ighobor, Mr. Mene explains the way forward, how increased intra-African trade can boost economies post-COVID-19 and how digital trade will be next big thing on the continent. Read more

    China says its dollar-denominated exports, imports jumped in June, beating expectations of a decline

    CNBC: China’s dollar-denominated exports and imports rose in June, as restrictions eased and countries started to reopen their economies. Read more

    UAE-China trade to surge on the back of strong ties between the two nations

    The National: Bilateral trade between China and the UAE will continue to surge in the coming years on the back of strong relations between the two countries, despite a temporary roadblock caused by the effects of the Covid-19 pandemic, according to top officials. Read more

    Lessons from Covid, China: India needs a new paradigm for trade, industry, and development

    The Indian Express: Promoters of free trade say countries that trade with each other are unlikely to go to war with each other. The volume of India-China trade has been growing for many years. Yet soldiers of the two countries are skirmishing along their borders. Ten years ago, the Indian ambassador to China pointed out that while the volume of trade was growing no doubt, the pattern of trade was worrying. Read more

    STRAIGHT FROM THE WTO

    NEW ON THE CTLD BLOG

    The Caribbean Trade & Development Digest is a weekly trade news digest produced and published by the Caribbean Trade Law & Development Blog. Liked this issue? To read past issues, please visit here. To receive these mailings directly to your inbox, please subscribe to our Blog below:

  • Caribbean Trade & Development News Digest – December 9-14, 2019 – Christmas Edition

    Caribbean Trade & Development News Digest – December 9-14, 2019 – Christmas Edition

    Welcome to our final Caribbean Trade & Development News Digest for the year 2019! We are happy to bring you the major trade and development headlines and analysis from across the Caribbean Region and the world from the week of December 9-14, 2019! We do hope that you have enjoyed our Digests over the past year!

    THIS WEEK’S HIGHLIGHTS

    Several major trade developments happened this week. It is quite a mouthful so let us go one by one, starting with the bad and ending with the good:

    The bad

    One sad development is that as of December 11, the WTO’s Appellate Body no longer has the quorum required to hear new appeals to panel decisions. It was later reported that the two outgoing Appellate Body members will stay on temporarily to complete some existing appeals. Read more here.

    The WTO Director-General’s annual report to the TPRB of trade-related developments shows that between mid-October 2018 and mid-October 2019, the trade coverage of import-restrictive measures implemented by members was estimated at USD 747 billion – the highest trade coverage recorded since October 2012. Read the full news item here.

    On the COP25, the climate talks have ended with a compromise. Read here

    The good

    Some good news is that the WTO’s General Council at its last meeting for the year has approved the WTO’s budget for 2020 and extended two important moratoria related to customs duties on electronic transmissions and the initiation of “non-violation” complaints under the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS). Read more here.

    Additionally, the Trump Administration finally struck a deal with congressional Democrats on changes to the USMCA – the agreement to replace NAFTA. This should hopefully clear the path for US domestic ratification of the deal which was originally signed in November 2018 and whose amended version was signed by the three countries this week. Read the Protocol of Amendment here.

    The 9th ACP Summit of Heads of State and Government was held this week in Nairobi, Kenya from December 9-10. The ACP has been renamed the Organisation of Africa, Caribbean and Pacific States (OACPS).

    Turning to Brexit, the British electorate has given the ruling Conservative Party a decisive win. Does this mean a clear path forward now for Brexit? Maybe or maybe not. Read my commentary on it here!

    On the US-China trade war front, the US and China have announced completion of a ‘phase one’ trade deal. As such, the anticipated December 15, US tariffs on Chinese goods have not been implemented.

    REGIONAL NEWS

    CARICOM countries to benefit from global e-mobility programme

    Dominica News Online: Three Caribbean Community (CARICOM) countries are to benefit from a new Global Environment Facility (GEF) global e-mobility programme that has been launched at the ongoing United Nations Climate Change Conference (COP25). Read more

    UWI Strengthening Canada-Caribbean Relations

    UWI: Vice-Chancellor of The University of the West Indies (The UWI), Professor Sir Hilary Beckles is pleased to announce that the proposal for the establishment of the Canada-Caribbean Institute (CCI) was approved at a meeting of the University Finance and General Purposes Committee UFGPC) on October 30, 2019. Read more

    Barbados ‘may seek WTO ease’ on milling competition

    Barbados Today: Competition is heating up among the regional flour mills, threatening the milling industry in Barbados and the wider region, the industry and commerce minister said today, suggesting that Barbados ought to appeal to global trade arbiter for protection against extra-regional suppliers. Read more

    WTO: Are we in or out?

    EyeWitness News: The country’s World Trade Organization (WTO) accession has effectively come to a standstill, the nation’s chief negotiator has confirmed. Read more

    Social Media ‘Untruths’ Impact Bid To Join Wto

    The Tribune: The Bahamas’ bid to attain full World Trade Organisation (WTO) membership has been made harder by the spread of untruths on social media, the Government’s top negotiator has argued. Read more

    Wto: Bahamas May Have To Open Reserved Industries

    The Tribune: The Bahamas may have to open some of the 16 industries reserved solely for local ownership to foreign competition in becoming a full WTO member, the government’s top negotiator is warning. Read more

    Bahamas must flip approach to WTO

    The Tribune: The Bahamas should go “full steam ahead” in pursuing World Trade Organisation (WTO) membership through a private sector-driven approach that improves competitiveness, an attorney is arguing. Read more

    Belarus and Barbados establish diplomatic ties

    Belarus News: Permanent Representative of Belarus to the UN Valentin Rybakov and Permanent Representative of Barbados to the UN Henrietta Elizabeth Thompson signed a joint communique to establish diplomatic relations between the countries, BelTA learned from the press service of the Belarusian Ministry of Foreign Affairs. Read more

    Action Being Taken To Make The Export Of Goods And Services Easier

    JIS: State Minister for Industry, Commerce, Agriculture and Fisheries, Hon. Floyd Green, says the Government is working to make the export of local goods and services easier, by reducing the associated costs and processes. Read more

    South Holland Council is working on trading links with Jamaica

    Spalding Today: Officials have been forging closer relationships for trading produce between South Holland and Jamaica. Read more

    AMCHAM Jamaica signs MoU with US Embassy

    Jamaica Observer: United States Ambassador to Jamaica, Donald Tapia today signed a Memorandum of Understanding (MoU) with the American Chamber of Commerce of Jamaica (AMCHAM Jamaica) cementing the business relationship between the two organisations. Read more

    CARICOM and AFRICA – The Ties That Bind

    New York CaribNews: We are pleased to see the furtherance of collaboration between Africa takes another step with the opening of a CARICOM Office in Nairobi, Kenya. The Pan African movement of decades ago promoted the cultural heritage and historic ties and one that should also involve economic development. Read more

    Jampro Eyes Threefold Export Sales Growth For Max III Companies

    Jamaica Gleaner: Jampro president Diane Edwards is ­expecting the third cohort of companies selected for the Export Max programme to triple their export sales through their participation in the initiative. Read more

    Africa to open air and sea for trade with Caribbean and Pacific

    Star: The ninth African, Caribbean and Pacific (ACP) ended in Nairobi on Tuesday, with 79 countries pledging to promote inter Africa trade against unfair global trade practices. Read more

    79-member ACP now Organisation of African, Caribbean and Pacific States

    Jamaica Observer: The African, Caribbean and Pacific (ACP) Group yesterday ended a two-day summit here, agreeing to rename the 45-year-old organisation as the Organisation of African, Caribbean and Pacific States (OACPS). Read more

    INTERNATIONAL NEWS

    WTO chief: ‘Months’ needed to fix disputes body

    BBC: Director General of the World Trade Organisation Roberto Azevedo says it will take “a few months” to fix its main body for settling trade disputes. Read more

    What’s in the U.S.-China ‘phase one’ trade deal

    Reuters: The United States and China have agreed on the terms of a “phase one” trade deal that reduces some U.S. tariffs on Chinese goods while boosting Chinese purchases of American farm, energy and manufactured goods and addressing some U.S. complaints about intellectual property practices. Read more

    US, Mexico, Canada sign USMCA trade deal

    DW: Canada, Mexico and the United States have reached an agreement on a revised North American free trade pact. The deal, seen as a replacement for the 25-year-old NAFTA, is the result of more than two years of wrangling. Read more

    New North America Trade Deal Seen as Template for Deals to Come

    WSJ: USMCA’s provisions could find their way into other trade deals, based on Trump administration’s reworking of Nafta. Read more

    Evaluating the new USMCA

    CATO: Read the analysis from CATO Institute on the new USMCA. Read more

    ACP renamed as the Organisation of African, Caribbean and Pacific States

    Papua New Guinea Today: The 9th Summit of Africa, Caribbean and Pacific (ACP) Head of States and Government Tuesday approved the renaming of the group to be now called the Organisation of African, Caribbean and Pacific States (OACPS). Read more

    UK must be loyal on standards in return for market access – Macron

    The Guardian: Emmanuel Macron has warned Boris Johnson that the UK must remain “loyal” to EU standards post-Brexit for British companies to maintain access to the European market. Read more

    Sturgeon: Scotland wants different future from rest of UK

    BBC: SNP leader says election results made clear Scottish voters don’t want a Boris Johnson government or Brexit. Read more

    Michael Gove promises Brexit trade deal with EU by end of 2020

    Guardian: Minister says transitional arrangements will definitely stop on 31 December next year. Read more

    Election results 2019: Five big things on Boris Johnson’s to-do list

    BBC: With a substantial majority in Parliament, Boris Johnson can push ahead with his plans, confident that MPs will back them. So, what’s in the prime minister’s in-tray as he returns to work in Downing Street? Read more

    Brexit and EU trade deal are Boris Johnson’s priorities, says Michael Gove

    EU Today: The top priority of British Prime Minister Boris Johnson’s government is to leave the European Union on January 31st, and to secure a new trade deal with the EU by the end of next year, cabinet office minister Michael Gove, who is likely to be the UK’s lead trade negotiator with the EU, said on Sunday. Read more

    Europe reacts: Time frame for post-Brexit trade deal ‘is challenging’, says EU chief

    Euronews: The European Union have welcomed Boris Johnson’s thumping general election victory, calling for the Brexit deal to be ratified as soon as possible with Commission President Ursula von der Leyen stressing that “the time frame ahead of us is very challenging”. Read more

    Australian trade to be a winner in post-Brexit world, Brandis says

    The Sydney Morning Herald: Australia’s top envoy in London says political obstacles in the path of a massive free-trade agreement between Boris Johnson and Donald Trump leave Prime Minister Scott Morrison as the frontrunner to strike the world’s first post-Brexit economic deal with the United Kingdom. Read more

    ACP summit ends with adoption of resolutions to boost multilateralism

    XInhua: The ninth summit of African Caribbean and Pacific (ACP) heads of state and government ended in Nairobi on Tuesday with the adoption of resolutions to promote a rules-based international order. Read more

    WTO Appeals Judges to Stay On to Complete Several Decisions-WTO Official

    NY Times: World Trade Organization (WTO) judges will complete decisions on three pending appeals for which hearings have been held – despite the collapse of the Appellate Body earlier this week – a WTO official said on Thursday. Read more

    Experts call for integrating digital economy with AfCFTA to spur Africa’s development

    News Ghana: African experts and policymakers on Thursday called for integrating the digital economy with the Africa Continental Free Trade Area Agreement (AfCFTA) so as to harness potentials of the continental free trade pact. Read more

    Experts meet to validate African Continental Free Trade Area (AfCFTA) Business Index

    Business Ghana: The aim of the index is to provide an assessment of the extent to which businesses across Africa find trading across borders in Africa challenging, and to identify the main barriers to trade. Read more

    Cut red tape to boost trade, Uhuru urges Africa, Caribbean, Pacific states

    Business Today: President Uhuru Kenyatta has called for improvement of regulatory and institutional frameworks to promote faster economic growth among developing countries in Africa and the Caribbean. Read more

    The African Continental Free Trade Area Could Boost African Agency in International Trade

    Chatham House: The agreement, which entered into force in May, could be a major step for Africa’s role in international trade, if the continent can overcome barriers to implementation. Read more

    Uhuru seeks to review skewed EU trade agreements

    Nation: President Uhuru Kenyatta has termed current trade agreements with the European Union as largely imbalanced. Read more

    STRAIGHT FROM THE WTO

    NEW ON THE CTLD BLOG

    The Caribbean Trade & Development Digest is a weekly trade news digest produced and published by the Caribbean Trade Law & Development Blog. Liked this issue? To read past issues, please visit here. To receive these mailings directly to your inbox, please subscribe to our Blog below:

  • Caribbean Trade & Development News Digest – June 23-29, 2019

    Caribbean Trade & Development News Digest – June 23-29, 2019

    Welcome to the Caribbean Trade & Development News Digest for the week of June 23-29, 2019! We are happy to bring you the major trade and development headlines and analysis from across the Caribbean Region and the world from the past week.

    THIS WEEK’S TRADE HIGHLIGHTS

    The EU and Mercosur have reached a trade deal. Read the EU’s press release here.

    G20 leaders met in Osaka, Japan and among other things, have affirmed their commitment to WTO reform. The full G20 statement may be read here.

    Barbados and UAE will co-chair UNCTAD’s 15th Quadrennial in October 2020. Read more here.

    REGIONAL NEWS

    C’bean leaders to further discuss CSME at summit

    Jamaica Observer: Caribbean Community (CARICOM) leaders will meet here early next week with the implementation of measures to enhance the CARICOM Single Market and Economy (CSME) high on the agenda. Read more

    Caricom heads to meet in July

    Newsday: The 40th Regular Meeting of the Conference of Heads of Government of the Caribbean Community (Caricom) will be held in St Lucia from July 3-5. Read more

    Barbados to host UNCTAD Conference

    Nation News: Prime Minister Mia Mottley announced today the island would host the 15th United Nations Conference on Trade and Development (UNCTAD) quadrennial meeting in October next year. Read more

    Imports up 1.9% in May 2019

    Amandala: The Statistics Institute of Belize (SIB) reported that Belize imported $169.4 million worth of goods in May 2019, a 1.9% increase over goods imported last year in the same period. Read more

    Guyana listed as world’s fastest growing economy

    Jamaica Observer: The world’s second largest stock market NASDAQ, has named Guyana as the fastest growing economy in the world. Read more

    Regional rum producers promoting responsible drinking

    Jamaica Observer: The West Indies Rum & Spirits Producers’ Association (WIRSPA) has ended a meeting here discussing how to promote responsible drinking and to reduce the harmful use of alcohol. Read more

    Jamaica Imports and exports rising

    Jamaica Observer: The Statistical Institute of Jamaica (Statin) is reporting in its quarterly report that for the period January to March 2019, Jamaica’s imports were valued at US$1.66 billion — a 13.1 per cent increase when compared to the corresponding period for 2018 with a value of US$1.47 billion. Read more

    Antigua PM willing to create team to sensitise correspondent banks about CIP

    Antigua Observer: In an effort to sensitise correspondent banks on the integrity and security of the Citizenship by Investment Programme’s (CIP’s) application and approval process, Prime Minister Gaston Browne, in his capacity as OECS Chair, said that he is willing to assemble a team of government officials, CIP executives, Anti-Money Laundering and Countering Financing of Terrorism experts and banks to hold joint meetings. Read more

    INTERNATIONAL NEWS

    G-20 leaders agree to speed up WTO reforms

    Nikkei Asian Review: The Group of 20 leaders ended a summit dominated by the U.S.-China trade war with a commitment to accelerating efforts to reform the World Trade Organization. Read more

    India wins solar case against US at WTO

    Livemint: India on Thursday won a major trade dispute against the US at the World Trade Organization, with a dispute settlement panel pronouncing that subsidies and mandatory local content requirements instituted by eight American states breached global trade rules. Read more

    Nigeria: Finally, Nigeria to Sign African Continental Free Trade Agreement

    AllAfrica: Following the recommendation of the Presidential Committee on African Continental Free Trade Agreement (AfCFTA), which submitted its report to President Muhammadu Buhari yesterday, Nigeria will sign the agreement, with conditions authoritative presidency sources have told THISDAY. Read more

    All set for Horn of Africa trade forum focusing on region’s pharmaceutical industry

    Africanews: All is set for the two-day regional trade forum for the Horn of Africa focusing on the implementation of the historic African Continental Free Trade Agreement that went into force on 30 May. Read more

    Dairy imports off to a slow start in Pacific Rim trade deal

    CBC: As dairy, egg and poultry farmers wait for the Liberal government to explain the details of a $3.9 billion compensation package promised in this spring’s federal budget, a serious threat from imports under the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) has yet to emerge. Read more

    UK seeks new no-deal Brexit freight plan

    BBC: Transport companies are being asked to bid to provide extra freight capacity to be used in the event of a no-deal Brexit on 31 October. The hurried ferry procurement process as the UK prepared to leave the EU on 29 March cost taxpayers more than £85m. Read more

    Canada and Mexico may be open to tweaking USMCA: U.S. Democrat

    Reuters: Canada and Mexico may be open to a limited renegotiation of aspects of the United States-Mexico-Canada free trade agreement to satisfy U.S. lawmakers’ concerns, a top U.S. Democrat said on Wednesday, opening the door to its passage in the fall. Read more

    EU signs free trade agreement with Vietnam

    Deutsche Welle: The European Union has signed a landmark free trade deal with Vietnam. With concerns from some lawmakers about the country’s human rights record, the agreement needs approval from the European Parliament. Read more

    U.S. will sanction any countries that import Iranian oil: special envoy

    Reuters: The United States will sanction any country that imports Iranian oil and there are no exemptions in place, the U.S. special envoy for Iran said on Friday. Read more

    G20 summit: Trump and Xi agree to restart US-China trade talks

    BBC: The US and China have agreed to resume trade talks, easing a long row that has contributed to a global economic slowdown. US President Donald Trump and China’s President Xi Jinping reached agreement at the G20 summit in Japan. Read more

    EU to provide 40 billion euros in grants to help create jobs in Africa

    Africanews: The European Union Commission fully supports the African Continental Free Trade Agreement (AfCFTA) and is proposing a 40 billion Euro package to attract investments that would create at least 10 million jobs in Africa. Read more

    Trump Says He’ll Allow China’s Huawei to Buy From U.S. Suppliers

    Bloomberg: President Donald Trump said he’ll allow Huawei Technologies Co. to buy products from U.S. suppliers, in a concession to China after talks with the country’s President Xi Jinping on Saturday. Read more

    Farmers welcome trade truce, hope for more

    WSJ: Farmers and agricultural groups welcomed the U.S.-China trade truce but many said they still need a comprehensive agreement to restore large-scale exports of U.S. crops and meat and lift the fragile farm economy. Read more

    WTO NEWS

    NEW ON CTLD BLOG

    The Caribbean Trade & Development Digest is a weekly trade news digest published by the Caribbean Trade Law & Development Blog. Liked this issue? To read past issues, please visit here. To receive these mailings directly to your inbox, please subscribe to our Blog below:

  • Caribbean Trade & Development Digest – June 9-15, 2019

    Caribbean Trade & Development Digest – June 9-15, 2019

    Welcome to the Caribbean Trade & Development News Digest for the week of June 9-15, 2019! We are happy to bring you the major trade and development headlines and analysis from across the Caribbean Region and the world from the past week.

    THIS WEEK’S TRADE HIGHLIGHTS

    UNCTAD released its World Investment Report 2019 noting that “global foreign direct investment (FDI) flows slid by 13% in 2018, to US$1.3 trillion from $1.5 trillion the previous year – the third consecutive annual decline”. Read the World Investment Report 2019.

    G20 Trade and Digital Economy Ministers for the first time met together. Read the Ministerial statement here.

    CARICOM Ministers of Foreign Affairs of the Caribbean Community (CARICOM) and the Republic of Cuba, met in Georgetown, Guyana, on June 14th, 2019, on the occasion of the Sixth CARICOM-Cuba Ministerial Meeting. Read the Declaration here.

    REGIONAL NEWS

    Joint Communique: Barbados and Ghana

    Nation News: The following Joint Communiqué was issued on the occasion of the Official Visit to Barbados by Nana Akufo-Addo, President of the Republic of Ghana.President of the Republic of Ghana, His Excellency Nana Akufo-Addo, paid an official visit to Barbados from June 14 to 15, 2019, during which he held talks with Prime Minister Mia Amor Mottley. Read more

    Ghana to help Barbados with nurses soon

    Nation News: Barbados’ acute nursing shortage could soon be a thing of the past.Thanks to the government of the Republic of Ghana, the island should soon have more than enough registered nurses to fill the void that has been a bugbear for the medical health sector for decades. Read more

    CARICOM reaffirms great value of relations with Cuba

    CARICOM Today: Even as the Caribbean Community (CARICOM) on Friday reaffirmed the great value it attaches to ties with Cuba, it reiterated its call for an immediate and unconditional end to the economic, commercial and financial embargo imposed by the United States on Cuba. Read here

    Gov’t Taking Action to Mitigate Climate Change Impacts

    JIS: Foreign Affairs and Foreign Trade Minister, Senator the Hon. Kamina Johnson Smith, says the Government is taking steps to reduce and manage the effects of climate change across all sectors through national and international partnerships. Read more

    Norway to fund mega solar farms in Guyana

    Amsterdam News: Norway’s government has approved grant aid worth $80 million to help the largest Caribbean Community nation build a number of mega solar farms to provide energy to several communities located near the jungle close to the borders with Venezuela and Brazil, officials have said. Read more

    Caribbean women entrepreneurs export ready

    MENAFM: Nineteen Caribbean female entrepreneurs have completed the WE-Xport programme, an initiative geared at helping them to start exporting or to increase exports of their products and services. Read more

    Pushing exports

    Barbados Advocate: WITH Barbados’ goods exports languishing in the region of Bds$510 million over the last two years, there is a concerted effort by the current administration to push exports to help grow the economy. Read more

    Ghana to help Guyana’s energy sector

    Demerara Waves: Ghana’s President, Nana Akufo-Addo has agreed that his country would help Guyana’s energy sector, Director-General of the Ministry of the Presidency, Joseph Harmon said. Read more

    12,000 Pounds of Mangoes Exported from Jamaica to US

    JIS: Twelve thousand pounds of mangoes were exported on Thursday (June 13) to the United States (US).The mangoes – ‘Julie’ and ‘East Indian’ – were the first set to be exported to the US in 20 years. Read more

    Jamaica Dealers Object To New Directive To Sanitise Imported Autos

    Jamaica Gleaner: The Jamaica Used Car Dealers’ Association, JUCDA, says it is strongly opposed to a new directive by the Trade Board for importers of used motor vehicles to pay a Jamaica government agent based in Japan to sanitise each auto at a cost of up to US$150 before they are shipped. Read more

    INTERNATIONAL NEWS

    India is hitting the United States with more tariffs

    CNN: India just increased tariffs on US exports, dealing another blow to fragile global trade. Read more

    Trade tensions boosted international role of euro, ECB reports

    Euractiv: Trade tensions, challenges to multilateralism and unilateral sanctions might be bad for the economy but they have helped boost the global use of the euro, the European Central Bank reported on Thursday (13 June). Read more

    Europe wants to replenish UN Green Climate Fund

    Euractiv: EU member states want to replenish a UN fund aimed at supporting developing nations cut carbon emissions and adapt to climate change, according to draft conclusions from next week’s EU summit. Read more

    Indian, Chinese officials hold dialogue to break deadlock in RCEP trade negotiations

    Hindu Business Line: In a renewed attempt to break the stalemate in the ongoing Regional Comprehensive Economic Partnership (RCEP) negotiations involving 16 countries, senior officials from India and China met in New Delhi this week to try and reach a common ground on market opening commitments. Read more

    13 RCEP nations oppose India’s strict country of origin norms

    Economic Times: India wants strict rules of origin to prevent Chinese goods from flooding the country through member countries that may have lower or no duty levels. Read more

    Trade Policy Review: Canada

    WTO: The eleventh review of the trade policies and practices of Canada took place on 12 and 14 June 2019. The basis for the review is a report by the WTO Secretariat and a report by the Government of Canada. Read more

    Egypt’s exports to Africa rise $4.7B in 2018

    Egypt Today: Egypt’s exports to the African continent are expected to reach $4.7 billion in 2018, compared to$3.6 billion in 2017, with an increase of 30 percent, according to the Commercial Representative Office. Read more

    China issues new guidelines for its commercial space sector

    China Knowledge: China has introduced its first guidelines to regulate its commercial space sector in order to guide the health development of commercial space rockets manufacturing and test flights. Read more

    Customs fraud is thriving thanks to Trump’s trade war

    The Hill: As one would expect, and as Trump intended, the value of U.S. imports from China has dropped off considerably. But what may not have been anticipated is the growth in imports from other countries or, for that matter, the increased incentive to commit customs fraud. Read more

    Public Hearings on Proposed Section 301 Tariff List

    USTR: The Office of the U.S. Trade Representative (USTR) will hold public hearings from June 17 to June 21, 2019 and, the following week, from June 24 to June 25, 2019, regarding proposed tariffs on approximately $300 billion worth of Chinese products. Read more

    Rare earths give China leverage in the trade war, at a cost

    Economist: If China cuts off exports, it would hurt America but also undermine its own long-term economic goals. Read more

    No hope of avoiding tariffs in ‘no deal’ Brexit – EU’s Malmstrom

    Reuters: Supporters of Brexit are “completely wrong” if they think recourse to an obscure trade rule will stop tariffs springing up overnight if Britain leaves the European Union without a deal, EU Trade Commissioner Cecilia Malmstrom said on Friday. Read more

    Brazil asks for WTO investigation of Indonesia on poultry trade

    CNA: The Brazilian government has formally asked the World Trade Organization (WTO) to open a panel to investigate Indonesian policies on Brazil’s poultry exports, the Agriculture Ministry said on Friday. Read more

    Liam Fox warns WTO is ‘in crisis’ as businesses told to brace for no-deal Brexit

    Telegraph: The US-China trade war, industrial strife and political deadlock all threaten to overwhelm the World Trade Organization, putting the future of the institution and the system of free trade in mortal danger, Liam Fox has warned. Read more

    UK signs post-Brexit free trade deal with South Korea

    BBC: The UK and South Korea have signed an outline free trade agreement (FTA) that seeks to maintain existing trade arrangements post-Brexit. Read more

    Taiwanese companies hit by US-China trade war lured back home by Taipei

    South China Morning Post: ‘Invest Taiwan’ offers low-cost loans, help finding workers and even rent-free accommodation for firms struggling to make a profit on the Chinese mainland. Read more

    Representatives from India and Latin America Call for More Trade

    Prensa Latina: Options for enhanced economic cooperation in India and Latin America were discussed by diplomats from that region and officials of the Indian Government, banking entities and the National Federation of Chambers of Commerce and Industry. Read more

    China ready for trade talks with East Africa bloc: ambassador to Kenya

    Reuters: China is ready to negotiate a trade deal with the six-nation East Africa Community (EAC) to address Kenya’s complaints about a huge trade imbalance in favor of the Asian economic giant, China’s ambassador to Nairobi told Reuters. Read more

    EU: No strategy yet if China halts critical exports in U.S. trade war

    Reuters: The European Union on Thursday said it had no clear strategy on how to ensure continued supplies of critical raw materials if China, the world’s leading supplier of rare earth minerals, used such exports as leverage in the escalating U.S.-China trade war. Read more

    EU asks for formal consultations with Southern African Customs Union on trade in poultry

    EU: Today, the EU requested formal consultations – a first step in a dispute settlement process – with the Southern African Customs Union (SACU) over safeguard measures affecting imports of frozen chicken cuts from the EU. Read more

    No trade action against India as of now: USTR

    The Hindu: The office of the United States Trade Representative (USTR) said it had no announcement of a trade action at the moment but continued to raise market access concerns with India, reacting to media reports last week that the U.S. was considering launching a 301 probe against India. Read more

    U.S. Asks WTO to Temporarily Pause Its IP Dispute With China

    Bloomberg: The U.S. asked the World Trade Organization to suspend its dispute over China’s intellectual property practices for six months, according to a notice published Friday on the WTO website. Read more

    PM Modi slams protectionist, unilateral trade moves

    Economic Times: Prime Minister Narendra Modi on Friday criticised unilateral and protectionist decisions in trade, seeking instead a rules-based, anti-discriminatory and WTO-led inclusive system that would address the needs and aspirations of stakeholders globally. Read more

    Australian rare earth miners push development deals to counter China grip

    Reuters: Rare earth developers in Australia say they are edging closer to signing deals with new customers that would drive forward their projects amid mounting global supply concerns over the minerals that are crucial to high-tech industries. Read more

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